The Land Department has published data on real estate sales in Cyprus for February.
According to the department, in the second month of 2024 on the island concluded 1,284 transactions of sale and purchase of housing, compared to 1,131 in the same month of 2023. The increase amounted to a 14% increase.
Looking in more detail, the positive trend in February was recorded in Nicosia (+47%), Larnaca (+22%) and Paphos (+17%), while the negative trend was in the free areas of Famagusta (-7%) and Limassol (-5%). Of the 1,284 sales transactions, 280 were in Nicosia, 69 in the free areas of Famagusta, 247 in Larnaca, 378 in Limassol and 242 in Paphos.
The total number of concluded transactions with residential and commercial properties in Cyprus in February reached the mark of 1,688 units. Of these: 511 deals totaling €70.404 million were concluded in Nicosia, 425 deals totaling €119.214 million in Limassol, 313 deals totaling €52.259 million in Larnaca, 81 deals totaling €12.042 million in the free areas of Famagusta and 358 deals totaling €86.498 million in Paphos.
In turn, from January to February 2024, 2,340 residential real estate sale and purchase agreements were concluded in Cyprus.
Compared to the same period in 2023, the increase amounted to 9%. According to the department, this is the best result in the history of observations since 2008.
Finally, the total number of concluded transactions of residential and commercial properties in Cyprus in January-February 2024 reached the mark of 3,154 units. Of these: 852 transactions worth €121.150 million were concluded in Nicosia, 851 transactions worth €219.613 million in Limassol, 560 transactions worth €90.243 million in Larnaca, 155 transactions worth €23.107 million in the free areas of Famagusta and 736 transactions worth €172.795 million in Paphos.